Question 1

An accountant certified to possess the minimal professional qualifications for an external auditor is a

Accepted Answer

A) CPA 
B) CMA 
C) CIA 
D) all of these 
A) CPA 
B) CMA 
C) CIA 
D) all of these

Question 2

Identify and discuss the factors that are affecting the way cost accounting is practiced.

Accepted Answer

Worldwide competitive pressures, deregul

Question 3

Financial accounting information is used for

Accepted Answer

A) investment decisions. 
B) regulatory measures. 
C) stewardship evaluation. 
D) all of the above. 
A) investment decisions. 
B) regulatory measures. 
C) stewardship evaluation. 
D) all of the above.

Question 4

Which of the following relates to the credibility section of the IMA Code of Conduct?

Accepted Answer

A) Prepare clear and complete reports. 
B) Communicate professional limitations. 
C) Avoid actual or apparent conflicts of interest. 
D) Communicate information fairly and objectively. 
A) Prepare clear and complete reports. 
B) Communicate professional limitations. 
C) Avoid actual or apparent conflicts of interest. 
D) Communicate information fairly and objectively.

Question 5

Which of the following describes the managerial activity of comparing actual results with budgeted results?

Accepted Answer

A) control 
B) continuous improvement 
C) planning 
D) decision making 
A) control 
B) continuous improvement 
C) planning 
D) decision making

Question 6

Cost accounting

Accepted Answer

A) is concerned with assigning costs to various cost objects. 
B) attempts to satisfy the costing objectives of both financial accounting and management accounting. 
C) provides cost information that supports planning, controlling, and decision making. 
D) all of these. 
A) is concerned with assigning costs to various cost objects. 
B) attempts to satisfy the costing objectives of both financial accounting and management accounting. 
C) provides cost information that supports planning, controlling, and decision making. 
D) all of these.

Question 7

Which of the following positions would most likely be a staff manager?

Accepted Answer

A) manager of a Sears store 
B) president 
C) manager of a clothing division 
D) controller 
A) manager of a Sears store 
B) president 
C) manager of a clothing division 
D) controller

Question 8

The manager has to decide what tasks are needed and how they should be accomplished. This statement describes

Accepted Answer

A) the organization chart. 
B) planning. 
C) organizing. 
D) none of these. 
A) the organization chart. 
B) planning. 
C) organizing. 
D) none of these.

Question 9

For each certification, all an applicant has to do is meet specific educational and experience requirements.

Accepted Answer

A) True 
 B)False

Question 10

You are a management accountant for the Eastern Division of Strong Enterprises. Your longtime friend, Alana Rodriguez, is the Eastern Division manager. Alana was instrumental in helping you obtain your current position. Because the manager's annual bonus is based on the amount of profit the Eastern Division reports for the year, Alana has asked you to "massage the numbers" to make the Eastern Division appear more profitable.
Considering the Standards of Ethical Conduct for Management Accountants, how would you respond to Alana Rodriguez' request?

Accepted Answer

According to the Standards of Ethical Co

Question 11

A demand-pull system that strives to produce a product only when it is needed and only in the quantities demanded by customers is referred to as:

Accepted Answer

A) supply chain management. 
B) theory of constraints. 
C) lean manufacturing. 
D) just-in-time manufacturing. 
A) supply chain management. 
B) theory of constraints. 
C) lean manufacturing. 
D) just-in-time manufacturing.

Question 12

Cost management is concerned with producing outputs for _____.

Accepted Answer

A) internal managers 
B) creditors 
C) investors 
D) regulatory authorities 
A) internal managers 
B) creditors 
C) investors 
D) regulatory authorities

Question 13

How has the nature of accounting systems shifted in response to technology?

Accepted Answer

ERP, DSS, and OLAP software have allowed

Question 14

Competitive advantage is established by providing

Accepted Answer

A) more customer products than competitors. 
B) better quality than competitors. 
C) greater customer value for less cost than competitors. 
D) greater efficiencies than competitors. 
A) more customer products than competitors. 
B) better quality than competitors. 
C) greater customer value for less cost than competitors. 
D) greater efficiencies than competitors.

Question 15

Only Certified Public Accountants are permitted by law to serve as _________.

Accepted Answer

The answer of Only Certified Public Accountants are permitted by...

Question 16

Which of the following is NOT a process associated with an accounting information system?

Accepted Answer

A) auditing existing data 
B) collecting and recording data 
C) providing information to users 
D) analyzing and managing data 
A) auditing existing data 
B) collecting and recording data 
C) providing information to users 
D) analyzing and managing data

Question 17

What can a company do to increase the likelihood of its employees being ethical in all their undertakings?

Accepted Answer

Companies can establish a culture and at

Question 18

The service sector of the U.S. economy has decreased in importance as traditional industries have declined in importance.

Accepted Answer

A) True 
 B)False

Question 19

Evaluating the performance of a segment of the company is an example of planning.

Accepted Answer

A) True 
 B)False

Question 20

Discuss how the goal of profit maximization is affected by ethical considerations. What incentives are there for managers to manipulate accounting data in unethical ways in order to increase profits?

Accepted Answer

The objective of profit maximization sho

An accountant certified to possess the minimal professional qualifications for an external auditor is a

Identify and discuss the factors that are affecting the way cost accounting is practiced.

Financial accounting information is used for

Which of the following relates to the credibility section of the IMA Code of Conduct?

Which of the following describes the managerial activity of comparing actual results with budgeted results?

Cost accounting

Which of the following positions would most likely be a staff manager?

The manager has to decide what tasks are needed and how they should be accomplished. This statement describes

For each certification, all an applicant has to do is meet specific educational and experience requirements.

A demand-pull system that strives to produce a product only when it is needed and only in the quantities demanded by customers is referred to as:

Cost management is concerned with producing outputs for _____.

How has the nature of accounting systems shifted in response to technology?

Competitive advantage is established by providing

Only Certified Public Accountants are permitted by law to serve as _________.

Which of the following is NOT a process associated with an accounting information system?

What can a company do to increase the likelihood of its employees being ethical in all their undertakings?

The service sector of the U.S. economy has decreased in importance as traditional industries have declined in importance.

Evaluating the performance of a segment of the company is an example of planning.

Discuss how the goal of profit maximization is affected by ethical considerations. What incentives are there for managers to manipulate accounting data in unethical ways in order to increase profits?

Basic Cost Management Concepts

Cost Behavior

Activity-Based Costing

Product and Service Costing: Job-Order System

Process Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control

Standard Costing: a Functional-Based Control Approach

Decentralization: Responsibility Accounting, Performance

Strategic Cost Management

Activity-Based Management

The Balanced Scorecard: Strategic-Based Control

Quality and Environmental Cost Management

Lean Accounting and Productivity Measurement

Cost-Volume-Profit Analysis

Activity Resource Usage Model and Tactical Decision Making

Pricing and Profitability Analysis

Capital Investment

Inventory Management: Economic Order Quantity, Jit, and the Theory of Constraints

Filters

Exam 1: Introduction to Cost Management

An accountant certified to possess the minimal professional qualifications for an external auditor is a

Identify and discuss the factors that are affecting the way cost accounting is practiced.

Financial accounting information is used for

Which of the following relates to the credibility section of the IMA Code of Conduct?

Which of the following describes the managerial activity of comparing actual results with budgeted results?

Cost accounting

Which of the following positions would most likely be a staff manager?

The manager has to decide what tasks are needed and how they should be accomplished. This statement describes

For each certification, all an applicant has to do is meet specific educational and experience requirements.

A demand-pull system that strives to produce a product only when it is needed and only in the quantities demanded by customers is referred to as:

Cost management is concerned with producing outputs for _____.

How has the nature of accounting systems shifted in response to technology?

Competitive advantage is established by providing

Only Certified Public Accountants are permitted by law to serve as _________.

Which of the following is NOT a process associated with an accounting information system?

What can a company do to increase the likelihood of its employees being ethical in all their undertakings?

The service sector of the U.S. economy has decreased in importance as traditional industries have declined in importance.

Evaluating the performance of a segment of the company is an example of planning.

Discuss how the goal of profit maximization is affected by ethical considerations. What incentives are there for managers to manipulate accounting data in unethical ways in order to increase profits?

Basic Cost Management Concepts

Cost Behavior

Activity-Based Costing

Product and Service Costing: Job-Order System

Process Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control

Standard Costing: a Functional-Based Control Approach

Decentralization: Responsibility Accounting, Performance

Strategic Cost Management

Activity-Based Management

The Balanced Scorecard: Strategic-Based Control

Quality and Environmental Cost Management

Lean Accounting and Productivity Measurement

Cost-Volume-Profit Analysis

Activity Resource Usage Model and Tactical Decision Making

Pricing and Profitability Analysis

Capital Investment

Inventory Management: Economic Order Quantity, Jit, and the Theory of Constraints

Filters